Motor Trendis reporting that a Lexus GS-F version of the next-generation GS will be introduced some time in 2012:

Plans to drop the Lexus LFA’s 552-horsepower, 4.8-liter V-10 into the engine bay of the new Lexus GS-F are off, though the F variant is not. The LFA’s engine, we hear, would have cost “far more than half the price” of the GS-F, which we expect to launch about a year after the ’12 GS line’s late 2011 introduction. The most likely scenario is that the GS-F will get the IS-F’s thoroughly competent 416-horsepower, 5.0-liter V-8, instead, and provide an extra slab of meat to Lexus’ F performance lineup, which now consists only of the IS-F.

I’ve been told on more than one occasion that the LFA engine would add around $75,000 to the price of any car that used it, so it’s not all that surprising to find out that the rumored V10 GS-F is no more — and when you consider that with some tweaks (read: a power bump to 500hp), the 5.0L V8 engine in the IS-F will be more than capable of contending with the BMW M5 & Mercedes E63.